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Sky has boosted its production business with the acquisition of True North, a Leeds-based maker of property programmes.

The deal brings the company into a stable that also includes Love Productions, the maker of The Great British Bake Off. True North's portfolio includes A New Life in the Sun, which is shown by Channel 4. It has also made investigations for Panorama on the BBC and Animal Rescue Squad for Channel 5.

The Sky takeover represents the first successful exit for Channel 4's Growth Fund, a £20m pot of cash designed to support independent TV production companies. The broadcaster took a minority stake in True North in 2014.